Wednesday , July 17, 2019

Citigroup Building a Payments Unit and other Digital Transactions News briefs from 3/26/19

  • Citigroup Inc. says its treasury and trade solutions unit is building a capability to allow consumers to make payments to institutions. Payment methods will include cards, e-wallets, and new bank-transfer services such as request to pay and open banking.
  • Chosen Payments said Hudson Software Inc., developer of software for the ground-transportation industry, will offer its processing services to Hudson Software customers.
  • Bill.com, a provider of payment software, launched an accounts-receivable sync feature for NetSuite users that lets them make cross-border payments with the same process they use for domestic payments.
  • ACI Worldwide said it is providing payments services to the Internal Revenue Service via its OfficialPayments.com unit to enable consumer tax payments. ACI said it processed more than $20 billion in tax payments in the past 20 years for the IRS.
  • Samsung Electronics Canada Inc. said it is working with the Canadian Credit Union Association to bring the Samsung Pay mobile-payments service to the association’s 240 members; the first is Steinbach Credit Union, which is offering the Interac Debit service with Samsung Pay.
  • Book4Time, a software developer for wellness businesses, launched an all-in-one payment service built on First Data Corp.’s CardConnect technology.
  • Mastercard Inc. plans to invest $300 million in Dubai-based Network International, the largest payment processor in the Middle East and Africa, as part of Network International’s planned initial public offering of stock, Reuters reported. Mastercard would have a 10% maximum stake in the processor under the plan.
  • InComm Inc. said it will supply prepaid cards for a variety of online, console, and mobile gaming platforms for sale at WH Smith stores in the United Kingdom and on WH Smith’s Funkypigeon.com site.
  • Digits LLC, a startup that has been developing a blockchain system that would allow credit and debit cards to function as cryptocurrency cards, said it has launched its core technology.

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